Palantir CEO: OpenAI & Anthropic Token Model "Wrong

Palantir CEO Alex Karp states that "something has gone completely wrong" with OpenAI and Anthropic. He criticizes their token-based pricing model for enterprise customers. Karp believes businesses are paying for tokens that create no value and that the AI stack is sold in a way that doesn't justify the cost. He argues the AI industry focuses on consumption over outcomes. Companies are burning through tokens and accepting rising costs without seeing meaningful returns. This is seen as a systemic problem, not an issue with specific companies. Karp suggests the current commercial structure of AI is misaligned with buyer needs. Enterprises are hesitant to rent intelligence by the token if the payoff is uncertain and data exposure is high. This matters because it highlights a tension in the AI boom, suggesting usage growth doesn't automatically mean durable profits.